USD/JPY breaking Tuesday's high

By FXstreet.com | July 01, 2014 AAA

FXStreet (Bali) - USD/JPYis building up on recent gains, supported by a firm Nikkei 225, up over 0.5%, with the risk on seen Tuesday reinforcing the bullish bias short term.



Jim Langlands, Founder at FXCharts, notes: "The 4h chart remains positive and if the dollar can make further headway further sellers will appear at 101.65 (daily cloud base/Tenkan) which lies ahead of the 200 DMA at 101.73. The dollar really needs to break above this level in order to stabilize, but if so, it could make further gains towards 102.00."



In terms of orders, Peter Fell, Analyst at FXBeat, notes: "Option and Japanese exporter offers are being touted between 101.70/80, some light stops being cited above 101.80, importer demand is seen between 101.40/50 and official type demand between 101.20/25."



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